Malaysia 'corporate mafia' feud escalates with lawsuit against mogul – Yahoo News Singapore

By Anders Melin, Tom Redmond and Niluksi Koswanage
(Bloomberg) – Malaysian businessman Victor Chin is suing labour tycoon Aminul Islam for the “attempted hijacking” of a company, the latest development in the so-called corporate mafia case that’s drawn public attention in the Southeast Asian nation.
Chin alleged that Aminul, who’s also known as Amin and is involved in Malaysia’s recruitment of foreign workers, orchestrated pressure from law enforcement agencies and applied other tactics in an attempt to take over NexG Bhd. NexG is a provider of identification systems and Chin was the company’s chief operating officer until last September.
Chin said in a press statement that Amin is “the real corporate mafia and a key mastermind behind the attempted hijacking of security-based technology company NexG.” He said he was suing him “for the widespread enforcement pressure, account freezes and forced leadership changes via threats and exertion of pressure.”
Amin used his influence over authorities including the Royal Malaysia Police as a tool to exert pressure, Chin alleged. “Coordinated actions were taken by the corporate mafia gang to hijack the company,” he said. “I believe there is sufficient evidence to prove that I am not part of any corporate mafia network.”
Lui & Bhullar, a law firm representing Amin, acknowledged the suit and said it will file a defense accordingly. We will “set out our client’s position and ventilate all arguments in court,” Lui & Bhullar said.
A representative for NexG said it would be inappropriate to comment on the specific allegations because this is an ongoing legal dispute between private individuals, adding it is business as usual at the company.
Chin has been issuing media statements to defend himself since police raided his premises in mid-March after Bloomberg News published a report alleging that a group of businessmen, including him, worked with the Malaysian Anti-Corruption Commission to intimidate executives and oust them from their companies. Chin and the MACC deny the allegations.
Chin has said he’s being made the scapegoat and has called on any investigation into the corporate mafia to also focus on the role of the MACC and the police. He’s also echoed calls for a Royal Commission of Inquiry into the corporate mafia allegations.
Prime Minister Anwar Ibrahim’s cabinet has asked law enforcement agencies to investigate but hasn’t called for a royal commission.
Chin maintains he himself was a victim of corporate mafia tactics at NexG, a Kuala Lumpur-based company that has for years supplied passport chips and immigration-related technology products to Malaysia’s government. In August and October, NexG won two six-year contracts worth a combined RM2.46 billion (US$618 million) to produce Malaysian passports and national identity cards.
This is the first time Chin has identified an alleged member of what he calls the “corporate mafia gang” at NexG.
Amin was born in Bangladesh and later became a Malaysian citizen. He’s the founder of Bestinet Sdn., which operates a system that Malaysia’s government uses to manage part of its intake of foreign workers, particularly from Bangladesh.
In January, Bloomberg News published an investigation, based on interviews with more than 100 people familiar with the matter, about persistent corruption in the recruitment of foreign workers from Bangladesh. The article highlighted Amin and Bestinet’s role in the recruitment process.
In 2024, police in Bangladesh asked Malaysia to stop using Bestinet’s system and for Amin to be extradited, saying he played a key role in a system that “fraudulently extorted” workers.
Amin has denied wrongdoing and hasn’t been extradited or charged.
More stories like this are available on bloomberg.com
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